Brokers Offer Predictions for Methanex Co.’s Q4 2022 Earnings (TSE:MX)
Methanex Co. (TSE:MX – Get Rating) (NASDAQ:MEOH) – Research analysts at Raymond James lifted their Q4 2022 earnings per share (EPS) estimates for Methanex in a note issued to investors on Wednesday, June 22nd. Raymond James analyst S. Hansen now expects that the company will post earnings per share of $1.83 for the quarter, up from their prior forecast of $1.82. The consensus estimate for Methanex’s current full-year earnings is $5.45 per share. Methanex (TSE:MX – Get Rating) (NASDAQ:MEOH) last issued its earnings results on Wednesday, April 27th. The company reported C$2.74 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.63 by C$0.11. The business had revenue of C$1.49 billion during the quarter, compared to the consensus estimate of C$1.49 billion.
A number of other equities research analysts have also recently commented on the company. BMO Capital Markets reissued a “buy” rating and issued a C$65.00 price objective on shares of Methanex in a research note on Friday, April 29th. Alembic Global Advisors reissued a “hold” rating and issued a C$40.00 price objective on shares of Methanex in a research note on Monday, May 9th. Scotiabank cut Methanex to a “hold” rating and set a C$50.00 price objective for the company. in a research note on Tuesday, May 31st. Finally, Piper Sandler cut Methanex to a “sell” rating and set a C$48.00 target price on the stock. in a research report on Tuesday, May 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Methanex presently has an average rating of “Hold” and an average price target of C$55.54.
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Shares of MX stock opened at C$50.26 on Thursday. The company has a debt-to-equity ratio of 126.35, a quick ratio of 1.71 and a current ratio of 2.28. Methanex has a fifty-two week low of C$37.85 and a fifty-two week high of C$71.63. The stock has a 50 day simple moving average of C$63.22 and a two-hundred day simple moving average of C$61.40. The company has a market cap of C$3.64 billion and a P/E ratio of 5.83.
In other Methanex news, Director Nojan Abrary bought 1,301 shares of Methanex stock in a transaction that occurred on Monday, May 9th. The stock was acquired at an average cost of C$63.14 per share, for a total transaction of C$82,146.44. Following the completion of the transaction, the director now directly owns 16,966 shares in the company, valued at C$1,071,250.21. Also, Director Vanessa James sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 31st. The stock was sold at an average price of C$68.15, for a total value of C$511,125.00. Following the transaction, the director now owns 35,444 shares of the company’s stock, valued at C$2,415,508.60. Over the last quarter, insiders have purchased 1,601 shares of company stock worth $99,848.
Methanex Company Profile (Get Rating)
Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities. The company owns and manages a fleet of approximately 30 ocean-going vessels.
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